
die Laufbahn
career
A person's professional or career-related path and development.
Sie schlug eine akademische Laufbahn ein und wurde Professorin.
She pursued an academic career and became a professor.
career / track / orbit
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career
A person's professional or career-related path and development.
Sie schlug eine akademische Laufbahn ein und wurde Professorin.
She pursued an academic career and became a professor.

track
A specially built track for running competitions in athletics, usually in a stadium.
Der Sprinter lief die 400 Meter auf der inneren Laufbahn.
The sprinter ran the 400 meters on the inner track.

orbit / trajectory
The flight path or orbit of a celestial body or projectile.
Astronomen berechneten die exakte Laufbahn des Kometen.
Astronomers calculated the exact orbit of the comet.
'Laufbahn' is made up of 'Lauf' (from laufen, to run) and 'Bahn' (way, path). The meaning changes depending on what is moving along this 'Bahn' (path): a person's career, an athlete, or a celestial body.
Seine berufliche Laufbahn führte ihn durch viele Länder.
His professional career took him through many countries.
The context reveals which meaning is intended. Words like 'Beruf' (profession) or 'Karriere' (career) point to professional development. 'Stadion' (stadium) or 'Rennen' (race) point to the sports track. 'Planet' or 'Komet' (comet) signal the astronomical meaning.
Er möchte nach der Schule eine Laufbahn als Polizist einschlagen.
After school, he wants to pursue a career as a police officer.
In the sense of 'Karriere' (career), 'Laufbahn' is often used with the verb 'einschlagen' (to pursue / embark on). Typical adjectives are 'akademisch' (academic), 'politisch' (political), or 'beruflich' (professional).
Nach dem Studium schlug sie eine akademische Laufbahn ein.
After her studies, she pursued an academic career.
When referring to the running track in a stadium, the preposition 'auf' is almost always used. You run 'auf der Laufbahn' (on the track).
Die Athleten wärmen sich auf der Laufbahn für das Rennen auf.
The athletes are warming up on the track for the race.
career
Karriere and Laufbahn can both refer to a person's professional path. Karriere, however, often emphasizes achievements or advancement, while Laufbahn describes the course neutrally. Use Karriere when professional success is important, and Laufbahn when you mean the entire path without that evaluation.

Seine Laufbahn begann nach dem Studium in einem kleinen Betrieb.
His career began at a small company after he graduated.
Ihre Karriere führte sie von der Assistentin bis zur Abteilungsleiterin.
Her career took her from assistant to department manager.